Olin reports Q2 EPS $1.13, consensus $1.01

Reports Q2 revenue $1.70B, consensus $1.86B. CEO Scott Sutton said, “In this challenging demand environment, Olin’s global team continues to prove our model’s resilience and the ability to deliver significantly higher trough level adjusted EBITDA and corresponding cash flows…We continue to prioritize share repurchases from excess cash flow with approximately 5% of outstanding shares repurchased so far in 2023. In light of the difficult global economic environment and continued operating issues with the vinyl chloride monomer Freeport, Texas facility, we expect third quarter 2023 results from our Chemical businesses to be lower than Q2 2023 levels. We expect our Winchester business Q3 results to increase sequentially from Q2 2023 as we anticipate international and domestic military growth. Overall, we expect Olin’s Q3 2023 adjusted EBITDA to be approximately 10% lower than Q2 2023 levels. We expect full year adjusted EBITDA to be in the range of $1.4B.”